Aim to source 70% power requirement from solar energy in FY24: Allied Blenders and Distillers

Aim to source 70% power requirement from solar energy in FY24: Allied Blenders and Distillers

Allied Blenders and Distillers (ABD) on Wednesday said it plans to source 70 per cent of its power consumption from solar energy in the next financial year. In FY22, ABD's units consumed approximately 27 lakh units of electricity from local electricity boards.

 "Allied Blenders and Distillers (ABD) Ltd, India's largest domestic alcobev company, announced that it is aiming to replace 70 per cent of the power with renewable solar power in the next financial year (FY'24)," a company statement said.

To achieve this, ABD is installing solar power plants in seven of its units. Total installed capacity of these plants will be 1,400 KW. " Bikram Basu, Vice President, Strategy, Marketing and Business Development at ABD, said, "It's important to move to renewable and cleaner energy. This needs a thinking with ESG at the core of our beliefs and operations, current and future. We are taking the right steps in making the change."

Environmental, Social and Governance (ESG) is to take steps to make a difference for the business and the world. The Government of India and respective states are taking several initiatives for cleaner energy and this initiative addresses a similar thinking, it added.

 Shekhar Ramamurthy, Executive Deputy Chairman, ABD, said, "We have instilled ESG at the heart of our operations and are taking steps towards a model that will deliver cleaner energy and sustainable value. In addition to replacing 70% of our power with solar renewable power - ABD has embarked on a journey with a vision of minimizing wastage and zero discharge.

The company works with industries, corporate, investors and suppliers to create value for solar Projects and bring down the cost of solar power in the country. 

Paawan Energy Ltd. deals in the renewable energy sector as EPC, I&C, and O&M contractor. Being the distributor of SWSM Solar EPC Company, Paawan Energy delivers high-quality solar projects and services for its clients nationwide. 

Its focus on renewable energy reflects in the founding of CERO, a Mahindra Group company, which is India’s first authorised vehicle recycler. In the year 2022 alone, CERO recycled over 4000 vehicles in the country. In 2022, Mahindra also booked a 55% increase in renewable energy consumption to reach 12% cumulative RE share in its electricity power mix. Mahindra’s goal now is to touch 40% cumulative RE share in the coming year on account of a captive 60 MWp solar power plant. 

On the global renewable front, Mahindra Ag North America’s (MAgNA) Houston facilities switched to 100% renewable energy recently. Mahindra Lifespace Developers Ltd, the real estate and infrastructure development arm of the Mahindra Group, announced the launch of India’s first Net Zero Energy residential project Mahindra Eden in Bengaluru.

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